22/02/2025
Before Yàhoo Yàhoo, There Was 419: The Story of Ikechukwu Anajemba
Ikechukwu Anajemba, aka Ikemba na Ogidi, is considered one of the biggest fraudsters in Nigeria’s history. Long before the internet made cybercrime—what we now call “Yahoo Yahoo”—a household term, men like Anajemba and his associates were orchestrating grand schemes that made headlines worldwide.
Anajemba was part of an elite ring of fraudsters who pulled off one of the most audacious financial scams of the 1990s, swindling Banco Noroeste, a Brazilian bank, out of a staggering $242 million. This scam was the work of a well-organized syndicate led by Emmanuel Nwude, who impersonated Paul Ogwuma, then-Governor of the Central Bank of Nigeria. They convinced Nelson Sakaguchi, an executive at Banco Noroeste, to invest in a non-existent airport project in Abuja. It was the perfect con—promises of high returns, official-looking documents, and the greed of a man eager to make millions.
But while Nwude was the mastermind, Anajemba played a crucial role. He and his wife, Amaka Anajemba, helped move the stolen funds through a complex web of banks, shell companies, and personal accounts. The operation involved at least 15 commercial banks, some of which were well-known institutions in Nigeria. African International Bank (formerly BCCI, a bank notorious for money laundering) played a major role, reportedly receiving ₦184 million in one day in April 1996.
Yet, as is often the case with criminal enterprises, greed and betrayal set in. The men had successfully executed the heist, but Anajemba refused to share his portion of the loot. His partners, unwilling to let that slide, marked him for elimination.
The Fall of a Kingpin
In October 1998, Anajemba’s fate was sealed. On his way from his village back to Enugu, he ran into an ambush. The attack was brutal, and he was murdered in cold blood—proof that in the world of 419, there are no friends, only business partners watching their backs.
After his death, his widow, Amaka Anajemba, found herself in a dangerous game of survival. She refused to acknowledge her late husband’s associates, claiming there was no evidence linking him to anyone. But the fraud’s scale was too big to ignore. By 2004, the Nuhu Ribadu-led EFCC launched an investigation that led to the arrest and conviction of key players, including Nwude and Amaka. She was sentenced to 2.5 years in prison and ordered to return $48.5 million.
To this day, Anajemba’s story remains a cautionary tale. He lived fast, made millions, but ultimately met a violent end. Before Azamen, there was Ikemba na Ogidi—and he was one of its biggest names.
